The notional value of open interest in Bitcoin options on Deribit once exceeded $15 billion, reaching a record high

Last Friday, the notional value of open Bitcoin options contracts on Deribit reached a historic high of $15 billion. Since late September, this number has more than doubled, surpassing the peak of $14.36 billion during the bull market in October 2021 when Bitcoin was trading above $60,000. Today, Bitcoin is trading at around $37,200.As of writing, the notional value of open Bitcoin options contracts has fallen to $13.8 billion, with open positions of over 376,000 BTC, nearly double that of October 2021 but far below the record of 433,540 BTC in March of this year. (CoinDesk)